Published on 12/17/2019 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $517,000 index-linked notes on Russell, Nasdaq
By Kiku Steinfeld
Chicago, Dec. 17 – GS Finance Corp. priced $517,000 of 0% index-linked notes due Dec. 31, 2020 tied to the Russell 2000 index and the Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
If both indexes stay at or above 75% of their initial levels during the life of the notes, the payout will be $1,117.50 per $1,000 of notes.
If either index ever closes below 75% of its initial level and the final level of each index is equal to or greater than its initial level, the payout will be par.
If either index ever closes below 75% of its initial level and the final level of either index is less than its initial level, investors will be fully exposed to the decline of the lesser performing index.
Goldman Sachs & Co. LLC is the agent.
| Issuer: | GS Finance Corp.
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| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Index-linked notes
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| Underlying indexes: | Russell 2000 and Nasdaq-100
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| Amount: | $517,000
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| Maturity: | Dec. 31, 2020
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If both indexes stay at or above 75% of initial levels during life of the notes, $1,117.50 per $1,000 of notes; if either index ever closes below 75% of its initial level and final level of each index is equal to or greater than its initial level, par; if either index ever closes below 75% of its initial level and final level of either index is less than its initial level, investors will be fully exposed to the decline of the lesser performing index
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| Initial levels: | 1,624.231 for Russell, 8,385.745 for Nasdaq
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| Trigger levels: | 75% of initial levels
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| Pricing date: | Nov. 26
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| Settlement date: | Dec. 2
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| Agent: | Goldman Sachs & Co. LLC
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| Fees: | 0.78%
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| Cusip: | 40056XL61
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